The tournament is split into eight groups of four teams, with the young Magpies aiming to qualify for the knockout stages as one of the top two sides in Group E.
United's second-string completed a memorable run to the 2019 Premier League Cup final before losing out to Everton in a 1-0 defeat at Goodison Park.
Newcastle's youngsters will face each side home and away as they bid to seal their place in the last-16 for a fifth successive term.
Premier League Cup Group E fixtures:
Bristol City (A) - Monday, 14th November (kick-off 1pm GMT) @ Robins High Performance Centre
Crystal Palace (H) - Monday, 21st November (kick-off 7pm GMT) @ Whitley Park
Sheffield United (A) - Monday, 28th November (kick-off 3pm GMT) @ Bramall Lane
Sheffield United (H) - Monday, 5th December (kick-off 7pm GMT) @ Whitley Park
Bristol City (H) - Monday, 12th December (kick-off 5pm GMT) @ Whitley Park
Crystal Palace (A) - Monday, 19th December (kick-off 7pm GMT) @ Crystal Palace Training Ground